About HollyA glance into Holly's life, outside of the office!

Holly is a life-long Kalamazoo native and has been part of the Arbor Financial team since 2015. She has one daughter in college at GVSU and one starting her senior year of high school. In her spare time, Holly enjoys cooking and spending time at the golf course. She is also a member of the Greater Kalamazoo Board of Realtors Professional Development Committee and the Women's Council of Realtors, Southwestern Chapter. Recently, Holly was named to the National Association of Minority Mortgage Bankers of America (NAMMBA) as a Top 100 Producer. Her favorite part about being a Mortgage Loan Originator is helping first-time homebuyers achieve their dreams of homeownership.
 

Contact Information

Meet Holly Babb, Mortgage Loan Originator.

Email: hbabb@arborfcu.org
Direct Phone: 269.544.3195
NMLS Number: 1332758


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View Mortgage Specials


"We knew from talking with her that she was honest and compassionate. She knew how to guide us to where we wanted to be." - Dennis & Kathy Y.

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Mortgage Loan Specials

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Mortgage Specials

Term Rate with 0 pt as low as* APR with 0 pt as low as* Rate with 1 pt as low as* APR with 1 pt as low as*
PURCHASE OR REFINANCE MORTGAGE SPECIALS
7 Year Fixed Special 1.740% 2.025% - -
10 Year Fixed Special 1.990% 2.193% - -
12 Year Fixed Special 2.240% 2.411% - -

Fixed Rate Mortgages

Fixed Rate Mortgages

Term Rate with 0 pt as low as* APR with 0 pt as low as* Rate with 1 pt as low as* APR with 1 pt as low as*
30 Year 2.875% 2.952% 2.625% 2.701%
25 Year 2.750% 2.839% 2.500% 2.588%
20 Year 2.625% 2.733% 2.375% 2.482%
15 Year 2.500% 2.640% 2.250% 2.389%

3% Down Mortgages

3% Down Mortgages

Term Rate with 0 pt as low as* APR with 0 pt as low as* Rate with 1 pt as low as* APR with 1 pt as low as*
30 Year 4.125% 4.207% 3.875% 4.040%
25 Year 4.000% 4.094% 3.750% 3.940%
20 Year 3.875% 3.988% 3.625% 3.853%
15 Year 3.750% 3.895% 3.500% 3.792%
Evaluation required and ordered by a lender to determine value based on physical inspection and comparable sold properties.
Costs associated with purchasing the home and closing the transaction.
Monthly debts (from credit report) plus PITI (principal, interest, taxes, insurance) divided by gross monthly income = DTI.
Required if not putting 20% down. This is an additional monthly fee for the lender to pay property taxes and homeowners insurance (i.e. Principal and interest are $600.00/month. Property taxes are $2,000.00 annual ($166.67/month). Homeowners Insurance is $600.00 annual ($50.00/month). Total monthly payments will be $816.67).
Loan amount divided by purchase price equals LTV.
A closing cost charged by the lender for processing the loan; may also be called Processing Fee or Underwriting Fee.
Principal, interest, taxes, insurance.
The borrower has the option to buy down the interest rate by buying a point. A fee is added to closing costs (i.e. For 1% of the loan amount, the rate will be reduced by .25%).
Items that are required to be pre-paid for closing of the loan. If you escrow for homeowners insurance, one year of prepaid homeowners insurance is required.
Insurance to the lender that the property is free of any liens.
Typically required by the lender if LTV is greater than 80%.
At the time of application, you may choose to lock in your rate for a designated period of time or float and lock in at any time prior to close.

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